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2 Golf Courses Sold At Jovita

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By TODD LESKANIC, The Tampa Tribune

Published: February 12, 2008

ST. LEO - After months of flirting with potential buyers, the Lake Jovita Joint Venture has unloaded the two 18-hole golf courses and clubhouse in the community off State Road 52.

Investors Dennis and Sun Ok Lee purchased the courses for $11.5 million, according to court records. The deal closed Jan. 31, and the Lees took out an $8 million mortgage. The Lees, who have an address in Tampa Palms, bought the courses under the name Sunden Tampa LLC. They could not be reached for comment.

Records show the Lees are no strangers to golf course ownership. They own the Diamond Hill Golf and Country Club in Dover, a purchase they made for $3.5 million in 1989. Dade City lawyer Hutch Brock, who represents Lake Jovita Joint Venture, said the Lees also own courses in Texas and California.

Last summer, the investors who make up the Lake Jovita Joint Venture signed an agreement to sell the courses, clubhouse and undeveloped land to Dunedin investor Michael Sheeks. That deal, which was for $11.5 million, was to close by the end of 2007.

Monday, Brock said Sheeks allowed the agreement to expire in November. About the same time, the Lees contacted the Lake Jovita group and expressed an interest in buying the two courses and the 32,000-square-foot clubhouse.

The courses that snake through the community of about 800 homes are rated among the state's finest.

Reporter Todd Leskanic can be reached at tleskanic@tampatrib.com or (352) 521-3156.

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